Citi CEO Jane Fraser sees no banking crisis afoot

CEO of one of U.S.'s largest banks sees demise of Silicon Valley Bank and Signature Bank as contained, with the banking system as a whole in solid shape

Citigroup Inc. Chief Executive Officer Jane Fraser said the U.S. banking system remains in solid shape despite the demise of Silicon Valley Bank and Signature Bank in the past two weeks and a swoon in bank stocks.

Fraser... Citigroup Inc. Chief Executive Officer Jane Fraser said the U.S. banking system remains in solid shape despite the demise of Silicon Valley Bank and Signature Bank in the past two weeks and a swoon in bank stocks. Fraser downplayed any comparisons of the current situation to the global financial crisis after the collapse of Lehman Brothers in 2008.

Bank stocks have swooned this month as speculation mounted about a failure of another bank after Silicon Valley Bank and Signature Bank failed, as well as this past week’s forced merger between UBS Group AG UBS and Credit Suisse CS .

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